Health Insurance

Health Insurance commonly describes any programs, usually in the US, that covers medical expenses. It is also commonly known as "health care coverage" and is either through social insurance, privately purchased insurance, or a non-insurance social welfare program that is funded by the government. Health insurance is simply in place to protect against the risk of costly medical expenses; especially the unexpected illness of family members.

Social insurance programs such as Medicare, are administered by the government. In America this type of insurance is given to those who are over the age of 65 and those that have physical disabilities. Medicare covers 80% of medical expenses with the remaining 20% paid either by the individual or another insurance company. Another example of government funded medical insurance is Medicaid. Those who qualify for this are generally either low income, pregnant, a child, parents of qualifying children, disabled, or elderly living in a nursing home. Medicaid also covers dental insurance.

Another type of health insurance is "private insurance," where an individual and a company have a contract. This insurance most commonly requires an individual to pay a monthly service fee for health coverage just in case any unexpected accidents or illnesses are to occur. Normally, a cautious buyer would ask for a document explaining the benefits, coverages, and expenses of a company's services to make sure there are no hidden fees. For instance, some companies only cover a certain portion of a "Co-payment." An example of this would be someone who is insured by a company and has to go in for a doctor's visit. Normally there is a fee for when you enter a clinic or hospital. You must first pay a small portion of your medical services. These charges are normally anywhere from twenty to forty USD.

The EHIC, otherwise known as "European Health Insurance Card" is another form of health insurance. Any individual covered by a social security systematic plan within the European Union can receive medical assistance at a reduced price or even free of cost if the treatment is necessary. This type of insurance was originally developed for those who are visiting a country within the European Union that are not originally from the servicing area. For example, if someone traveled from Germany to Italy, they would be allowed to use their EHIC for medical care in the foreign country.

Countries in Asia such as the Philippines have government programs that try to provide affordable health insurance. The Philippines is a developing country, so it is hard for many to acquire health insurance. Companies such as the "Philippine Health Insurance Corporation" try to provide health insurance coverage to all Filipinos. In South Korea, they have a program called "NHI" otherwise known as "National Health Insurance." This service is enforced by law and is distributed to the private sector and public sector, or a mix of both.

In Latin American, some countries such as Mexico provide medical insurance for those who can afford it. Health insurance in Mexico is provided by private companies or public institutions. Such programs as IMSS (Instituto Mexicano de Seguro Social) are available to Mexican Citizens and foreigners that register and pay the annual fees. IMSS covers diagnostic studies, hospitals, doctors, medical procedures and prescription drugs. Many hospitals and clinics do not accept foreign health insurance.

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